Domino's Pizza master franchise to file for bankruptcy in Russia, 21 August 2023

The Domino's Pizza franchise operator in Russia will file for bankruptcy for its business in the country amid an 'increasingly challenging environment'.

DP Eurasia, which also owns the chain's franchise in Turkey, Georgia and Azerbaijan, said it was abandoning previous plans for a sale of its DPRussia business and would exit the country.

In December, the London-listed firm said it was considering pulling out of Russia as it weighed the impact of sanctions, though it continued to keep stores open. 

But today it told shareholders: 'With the increasingly challenging environment, DPRussia's immediate holding company is now compelled to take this step, which will bring about the termination of the attempted sale process of DPRussia as a going concern and, inevitably, the group's presence in Russia'...

In March 2022, DP Eurasia cut most investment in Russia, leaving its operation to sustain itself. 

It also stopped taking royalties from the Russian stores, as did Domino's overall owners in the US.

But the group drew criticism for keeping the restaurants open, citing a desire to protect its staff and customers, and was accused of 'delivering very late'...